Arkansas § 15-4-3408 Matching funds

Arkansas Statutes

§ 15-4-3408 — Matching funds

Arkansas § 15-4-3408

Title15

This text of Arkansas § 15-4-3408 (Matching funds) is published on Counsel Stack Legal Research, covering Arkansas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ark. Code Ann. § 15-4-3408 (2026).

Text

(a)A regional economic development partnership shall match the state funds allocated to the regional economic development partnership on the basis of at least one dollar ($1.00) of local matching funds for every one dollar ($1.00) of state funds.

(b)If a regional economic development partnership does not provide proof of sufficient matching funds before the release of state funds, the Arkansas Economic Development Commission shall reduce the award of state funds in the amount necessary to adhere to the required one-to-one ratio of local matching dollars to state dollars.

(c)Local matching funds may be:

(1)Provided by public sources, private sources, or a combination of public sources and private sources; and (2) (A) Received in the form of cash, in-kind contributions, or a combination

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(a) A regional economic development partnership shall match the state funds allocated to the regional economic development partnership on the basis of at least one dollar ($1.00) of local matching funds for every one dollar ($1.00) of state funds. (b) If a regional economic development partnership does not provide proof of sufficient matching funds before the release of state funds, the Arkansas Economic Development Commission shall reduce the award of state funds in the amount necessary to adhere to the required one-to-one ratio of local matching dollars to state dollars. (c) Local matching funds may be: (1) Provided by public sources, private sources, or a combination of public sources and private sources; and (2) (A) Received in the form of cash, in-kind contributions, or a combination of cash and in-kind contributions. (B) In-kind contributions shall not be more than forty percent (40%) of the regional economic development partnership's total matching funds.